The value of one bitcoin has raised more than $10,000 (£7,493).
The virtual currency reached the benchmark of all time, just few days back it passed $9,000.
It caps an astonishing rise in value for the crypto-currency,bitcoin’s price was $1,000 at the beginning of year.
Some experts believe the asset still has far to achieve, but at the same time, others say it represents a bubble with nothing tangible at its core that could burst any time. Due to high bitcoin’s price,the total value of all the bitcoins at present time surpassed $167 billion.
In late 2013,Bitcoin’s price first reached $1,000 and then dipped significantly before starting a benchmark climb to its current value. It is still confusing that what drives the sudden rise in value, action mark by some financial regulators by limiting its use.
One factor that may be a cause was the US-based derivatives marketplace operator CME Group’s announcement at starting of month. They planned to launch a Bitcoin product at the end of 2017, which help gained confidence.
On other hand, was a decision to drop a controversial plan known as Segwit2x.
This would have changed the way Bitcoin’s underlying technology, the blockchain, worked, to help it handle billions of transactions.
Many industry analysts believe the rapid rise in value will not maintain and expect that its value will suddenly fall sharply.
Bitcoins were first produced in 2009 and took a long long time to become an accepted holder of monetary value that could be used for real-world .One old transaction involved using 10,000 bitcoins just to buy two pizzas.
Ethereum, is now at about $480, but at the start of 2017 each ETH was worth only about $10. Many others people are also trying to gain profit from the growing interest.
Many malware programmers are now thinking to install software on vulnerable websites that create or “mine” the coins.
In addition,now scammers are sending fake text messages to people’s phones. Claiming that they own some of the digital currency, in an effort to tempt them to open a dangerous link.